CHAPTER VIII - PENALTIES AND PROCEDURE
Section 34. Offences by companies.
(1) If the person committing an offence under this Act is a company, the company as well as every person in charge of, and responsible to, the company for the conduct of its business at the time of the commission of the offence shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly:
Provided that nothing contained in this sub-section shall render any such person liable to any punishment if he proves that the offence was committed without his knowledge or that he exercised all due diligence to prevent the commission of such offence.
(2) Notwithstanding anything contained in sub-section (1), where an offence under this Act has been committed by a company and it is proved that the offence has been committed with the consent or connivance of, or that the commission of the offence is attributable to any neglect on the part of any director, manager, managing agent or any other officer of the company, such director, manager, managing agent or such other officer shall also be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly.
Explanation.—For the purposes of this section,—
(a) “company” means any body corporate and includes a firm or other association of individuals; and
(b) “director”, in relation to a firm, means a partner in the firm.
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- 1. The words “except the State of Jammu and Kashmir” omitted by Act 51 of 1970, s. 2 and the Schedule (w.e.f. 1-9-1971).
- 2. The Act has been brought into force as follows:—26th January, 1962, vide notification No. S.O. 296, dated 23th January, 1962, see Gazette of India, Extraordinary, Part II,sec. 3(ii), in Madhya Pradesh.1st February, 1962, vide notification No. S.O. 296, dated 23th January, 1962, see Gazette of India, Extraordinary, Part II,sec. 3(ii), in Assam, Kerala, Mysore, Orissa, Punjab, Andaman & Nicobar Iclands, Delhi and Himachal Pradesh.1st March, 1962, vide notification No. S.O. 296, dated 23th January, 1962, see Gazette of India, Extraordinary, Part II,sec. 3(ii), in West Bengal.31st March, 1962, vide notification No. S.O. 296, dated 23th January, 1962, see Gazette of India, Extraordinary, Part II,sec. 3(ii), in Madras, Maharashtra and Uttar Pradesh.1st February, 1962, vide notification No. S.O. 310, dated 30th January, 1962, see Gazette of India, Extraordinary, Part II,sec. 3(ii), in Andhra Pradesh.1st February, 1962, vide notification No. S.O. 382, dated 31st January, 1962, see Gazette of India, Extraordinary, Part II,sec. 3(ii), in Rajasthan.15th February, 1962, vide notification No. S.O. 468, dated 9th February, 1962, see Gazette of India, Extraordinary, Part II,sec. 3(ii), in Tripura.1st March, 1962, vide notification No. S.O. 573, dated 16th February, 1962, see Gazette of India, Extraordinary, Part II,sec. 3(ii), in Bihar.31st March, 1962, vide notification No. S.O. 781, dated 9th March, 1962, see Gazette of India, Extraordinary, Part II,sec. 3(ii), in Gujarat and Manipur.
- 3. The proviso added by s. 2 and the Schedule, ibid. (w.e.f. 1-9-1971).
- 4. Subs. by Act 61 of 1986, s. 25, for “fifteenth” (w.e.f. 23-12-1986).*. Vide notification No. S.O. 3912(E), dated 30th October, 2019, this Act is made applicable to the Union territory of Jammu andKashmir and the Union territory of Ladakh.
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- 1. Subs. by Act 61 of 1986, s. 25, for “fifteenth” (w.e.f. 23-12-1986).
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- 1. Ins. by Act 4 of 1986, s. 2 and the Schedule (w.e.f. 15-5-1986).
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- 1. Ins. by Act 4 of 1986, s. 2 and the Schedule (w.e.f. 15-5-1986).